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December 17, 2012
10:46 EDTLN, TOT, CQPCheniere Energy rises after partnership signs long-term deal with Total
Cheniere Energy (LNG) is climbing after the company's limited partnership, Cheniere Energy Partners (CQP), signed a 20 year deal deal with French energy company Total (TOT). Under the deal, which was announced earlier this morning, Total agreed to buy about 2M tons of liquid natural gas annually from Cheniere Energy Partners. Total will buy the gas at fixed premium to the monthly Henry Hub price. Deliveries of the natural gas could start as early as 2018, Cheniere Energy Partners indicated. The deal is subject to certain conditions, including the attainment by Cheniere Energy Partners of required regulatory approvals and obtaining financing. In mid-morning trading, Cheniere Energy rose 70c, or 4.10%, to $17.79, while Cheniere Energy Partners advanced 3.61% to $20.95.
News For LN;CQP;TOT From The Last 14 Days
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October 2, 2015
11:23 EDTTOTShell and Total to operate first foreign gas stations in Iran, AP reports
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September 28, 2015
10:00 EDTTOTOn The Fly: Analyst Initiation Summary
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08:04 EDTTOTTotal initiated with an Outperform at BMO Capital
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September 24, 2015
13:29 EDTTOTTotal's Russian Arctic gas project receives Chinese investment, WSJ reports
The chances of Total's (TOT) Arctic natural gas project in Russia coming to fruition has been strengthened by a state-backed Chinese investment, the Wall Street Journal reports, citing comments from Total CEO Patrick Pouyanne. Yamal, a $27B project on a Russian peninsula, will be the main test to see if Russian energy projects are possible after its lead partner OAO Novatek (NOVKY) was hit with U.S. sanctions, the report says. Reference Link
September 23, 2015
18:19 EDTTOTTotal CEO downplays allegations of market manipulation, WSJ says
In a Wall Street Journal interview following market manipulation claims by the Federal Energy Regulatory Commission, Total CEO Patrick Pouyanne disclosed that the company is also being investigated by the Commodity Futures Trading Commission, though Pouyanne downplayed the matter. "There was no wrongdoing," said the Chief Executive, adding that the CFTC claims are being settled "for a few million dollars." Reference Link
06:06 EDTTOTTotal to cut 2015 CapEx to $23B-$24B, 2016 CapEx to $20B-$21B
Total plans to return to a "sustainable level" in CapEx of $17B-$19B from 2017 onwards. The company is further increasing its OpEx reduction target by $50% to $3B from $2B by 2017. Total achieved a production increase of 11% YoY during 1H15. Production is planned to grow by an average of 6%-7% per year between 2014 and 2017, and by an average of 5% per year between 2014 and 2019. The company confirms that organic free cash flow will cover the dividend by 2017. The company also plans to invest CapEx of around $500M per year to build profitable businesses in new energies. Comments taken from Total Strategy & Outlook Presentation.
05:31 EDTTOTExxon Mobil initiated with an Underperform at Macquarie (yesterday)
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September 22, 2015
18:38 EDTTOTU.S. regulators accuse Total of manipulating natural gas markets, WSJ says
The Federal Energy Regulatory Commission has accused Total's U.S. subsidiary of making money-losing gas purchases in order to manipulate prices on its other trading positions, reports the Wall Street Journal. The alleged scheme was conducted from 2009 to 2012, said the report. Total issued a response to the publication, saying it is fully cooperating with FERC and denying any wrongdoing. Reference Link
13:14 EDTTOTTotal initiated with an Outperform at Macquarie
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10:00 EDTTOTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Antero Midstream (AM) upgraded to Outperform from Neutral at Credit Suisse... China Southern Airlines (ZNH) upgraded to Neutral from Underperform at Macquarie... DuPont (DD) upgraded to Buy from Neutral at Citi... Entergy (ETR) upgraded to Overweight from Equal Weight at Barclays... HSBC (HSBC) upgraded to Conviction Buy from Buy at Goldman... KLA-Tencor (KLAC) upgraded to Buy from Neutral at Nomura... Total (TOT) upgraded to Buy from Hold at Societe Generale.
06:18 EDTTOTTotal upgraded to Buy from Hold at Societe Generale
September 21, 2015
09:39 EDTTOTTotal downgraded to Accumulate from Buy at Tudor Pickering
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09:09 EDTTOTSuncor to acquire additional interest in Fort Hills oil sands project
Suncor Energy (SU) announced that it has agreed to purchase an additional 10% working interest in the Fort Hills oil sands project from Total (TOT) E&P Canada Ltd., for total aggregate consideration of $310M at the time of announcement. As a result of this transaction, Suncor's incremental capital increase to Fort Hills is estimated at just over $1B of which approximately $700M is remaining project spend. Upon closing, Suncor's partnership share in the $15B project will increase to 50.8%. As part of the transaction, Suncor acquires a further proportionate interest in Fort Hills related logistics, including pipelines, storage terminals and third-party pipeline capacity agreements. The Fort Hills project is located in Alberta's Athabasca region, 90 kilometres north of Fort McMurray. The transaction is subject to closing conditions, including regulatory approval under the Competition Act. Teck has agreed to waive its right of first refusal to purchase a pro-rata share of the offering. The transaction is anticipated to close by the end of the year.

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